What U.S. city will boom in 2018? If you're placing bets, you'd be wise to look deeper into the Vegas market which happens to be red hot at the moment with no real signs of slowing down!
The Greater Las Vegas Association of Realtors announced that at the end of November 2017, the number of unsold housing units for sale had fallen 30 percent over the past year, representing less than two months of supply. Prices have responded, with Las Vegas joining Seattle as the only two metros with home prices growing by double digits over the past year.
*More here from the Bloomberg.com report: https://www.bloomberg.com/view/articles/2018-01-03/las-vegas-s-economy-is-on-the-brink-of-a-boom
With that in mind, here's your top 7 reasons why investing in Vegas right now might be a profitable play:
1. The NFL's Oakland Raiders are relocating to Vegas in 2020. Construction on their billion dollar stadium is underway across from Mandalay Bay.
2. The Las Vegas Aces -- Vegas' WNBA team begins their inaugural season in summer 2018.
3. The Vegas Golden Knights -- Vegas' first professional hockey team continues to have an historic first season in their state-of-the-art T-Mobile arena.
4. Billionaire hotelier Steve Wynn (not the best of times for him) bets on Vegas with plans for brand new strip hotel -- Wynn West which means more jobs!
5. Resorts World International continues construction on their new billion dollar world class strip resort set to open in 2020 bringing jobs, jobs, and jobs!
6. The Las Vegas Convention Center breaks ground on its $1.4 billion dollar expansion funneling in more tourists than ever before.
7. Las Vegas Sands Corp. (Venetian/Palazzo) releases plans to build an 18,500-seat music venue with joint-venture partners, Madison Square Garden, set to open in 2020. "The performance venue will offer sound and visual technology never before heard or seen and change the Strip skyline with a sphere-shaped building 360 feet tall."
Ready - Set - Place your bets!